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China Facts: Globalisation will become regionalisation

 

 

That this will happen is clearest in trade. The share of foreign inputs that cross-border supply chains source from within their own region has risen since 2012 in Asia. Multinational activities is becoming more regional too. A decade ago a third of the FDI flowing into Asian countries came from elsewhere in Asia. Now it is half. If you put Asian firms into two buckets - Japan and other Asian firms - each made more Money selling things to the other parts of Asia than to America in 2018! Far from making it easier to mitigate the downsides of globalisation, a regional world would struggle to solve worldwide problems such as climate change, cybercrime or tax avoidance. *) 

 

*) the Economist 26th January 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

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Hans Henrik Pontoppidan
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